USD/JPY: slipping through the net and below the 109 handle

Currently, USD/JPY is trading at 108.88, down -0.18% on the day, having posted a daily high at 109.17 and low at 108.83.

US Dollar Index: eighth daily gain in a row

USD/JPY has slipped to trade below the 109 handle in early Asia in an extension of the downside played out overnight from highs of 109.73. We have had some early representatives speaking including Satoshi Fujii who is the adviser to the Cabinet Office and says to add 21 trillion yen to the primary budget for the next fiscal year and in subsequent years, while from the Fed, we have Philadelphia Fed head Harker who has been speaking and said the unemployment rate is right on the Fed's target.

USD’s mature-looking secular bull trend to moderate in late 2017 - Scotiabank

USD/JPY levels

Current price is 108.89, with resistance ahead at 109.09 (Daily Open), 109.17 (Daily High), 109.18 (Monthly High), 109.18 (Weekly High) and 109.21 (Hourly 20 EMA). Next support to the downside can be found at 108.83 (Daily Low), 108.77 (Yesterday's Low), 108.76 (Daily Classic PP), 108.73 (Weekly Classic R1) and 108.17 (Daily Classic S1).

US Dollar Index: eighth daily gain in a row